Chinese manufacturing appears to be expanding rapidly, with the latest official manager survey reaching 51.7 (over 50 is an expansion in orders) vs. economists’ expectations of 51. The export component jumped to 50.3 from 49.2. That’s the highest level since July 2014, and is a marked contrast to the more downbeat outlook in Europe. A jump in the import orders to 50.6 takes the reading to its highest level since March 2012, and is good news for suppliers such as those in South Korea.